Nigeria Records 4th Consecutive Rise In Foreign Trade - NBS
The National Bureau of Statistics, NBS has said foreign trade recorded its fourth consecutive rise from 16.29 trillion naira in 2015 to 32.26 trillion naira in 2018.
The NBS said this in its “Foreign Trade in Goods Statistics for Fourth Quarter of 2018” posted on its website.
The bureau said foreign trade in 2015 was 16.29 trillion naira, 17.34 trillion naira in 2016, 23.16 trillion naira in 2017 and rose to 32.26 trillion naira in 2018.
The bureau said the volume of total merchandise trade in 2018 was the highest recorded since 2014, almost doubled pre-recession levels.
Meanwhile, the bureau said during the fourth quarter of 2018, total merchandise trade stood at 8.60 trillion naira compared to its value of 9.06 trillion naira recorded in third quarter of the year.
The country’s major export trading partners as at fourth quarter, 2018 were India, Spain, France, South Africa and the Netherlands, while China, U.S., Netherlands, India and Belgium were the major import trading partners.
The major import items were machinery and transport equipment, mineral fuel, chemical related products and food and live animals as well as manufacturing goods.
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